Title An analysis of external debt and capital flight in the severely indebted low income countries in Sub-Saharan Africa / prepared by S. Ibi Ajayi

Published [Washington, D.C.] : International Monetary Fund, Research Dept., ©1997

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Description 1 online resource (62 pages) Series IMF working paper ; WP/97/68 IMF working paper ; WP/97/68. Summary The African debt crisis, like its Latin American counterpart, started in the early 1980s and is not yet over! Debt was big news in the 1980s when the international financial system appeared threatened by the heavy indebtedness of a number of developing countries. More recently, the external debt of a group of 41 countries referred to as heavily-indebted poor countries (HIPCs), 32 of which are classified as severely indebted has been receiving increased attention. Most of the severely indebted low income countries which have been having problems managing their debt service obligations are in sub-Saharan Africa. 2 As a matter of fact, over the last one and a half decades, the external debt burden in many of the countries in this group has worsened, and the problem, if anything, has become even more serious. Debt ratios indicate that the overall external debt has become so large relative to the economic size of these countries and relative to export earnings that it would be impossible to pay a significant part of it in the short run without the imposition of what amounts to an impossible burden on those nations (Hope, Sr., 1996) Notes "June 1997." Bibliography Includes bibliographical references (pages 27-62) Notes English Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 MiAaHDL Print version record digitized 2011 HathiTrust Digital Library committed to preserve pda MiAaHDL Subject Debts, External -- Africa, Sub-Saharan Capital movements -- Africa, Sub-Saharan Poverty -- Africa, Sub-Saharan Debt relief -- Africa, Sub-Saharan Capital movements Debt relief Debts, External Poverty EXTERNAL DEBT. CAPITAL MOVEMENTS. AFRICA SOUTH OF SAHARA. Sub-Saharan Africa Form Electronic book Author International Monetary Fund. Research Department. ISBN 1283557134 9781283557139 1462359086 9781462359080 1452796688 9781452796680 145189547X 9781451895476 9786613869586 6613869589 9781451961119 1451961111 ISSN 2227-8885

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